Brookfield Is Said to Explore a Sale of Industrial-Property Unit

Brookfield Asset Management Inc. is weighing a sale of its North American industrial-property business IDI Logistics, according to people with knowledge of the matter.

The Canadian investment firm has interviewed banks to advise it on a sale of the company, which could fetch $5 billion, according to the people, who asked not to be named because the matter is private. The business is owned by Brookfield’s real estate arm, Brookfield Property Partners LP.

A deal for IDI Logistics would follow Brookfield’s sale last year of its European warehouse business, Gazeley, for $2.8 billion to Singapore’s Global Logistics Properties Ltd. ...